Developers urged to attend NAMA seminar - Mazars - Ireland

PROPERTY developers across the west have been asked to attend a seminar next week on the new National Asset Management Agency (NAMA) to hear details of how this will impact upon their current relationships with their banks.

The event, being held in Galway’s Clayton Hotel on Wednesday next April 22 (3pm to 5.30pm) and co-promoted by Western Homebuilders Skillnet, the Galway Advertiser newspaper group and Mazars Tierney will see more than 200 property developers hear more detail about the proposal to transfer €80bn to €90bn in property based lending (using current book values) to NAMA from the Irish owned banks i.e. Allied Irish Banks, Bank of Ireland, Permanent TSB, Irish Nationwide and the Educational Building Society. s
The interaction of Anglo Irish Bank with NAMA is unclear as it is already in state ownership so there is no definitive decision as to what to do with Anglo Irish Banks loan book. Ulster Bank and Bank of Scotland are not Irish owned so neither of these will be involved in NAMA.
Property developers who wish to attend should contact John Buckley, Western Homebuilders Skillnet, Office 9, Airport Business Park, Strandhill, Co. Sligo, ( info@northwestconsulting.ie , Tel.: 0719122600)

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